MUMBAI: In its annual general meeting held on 8 September 2003, the Gujarati daily newspaper Sandesh Ltd has declared a 50 per cent dividend on the equity shares of the company. In absolute terms, what it means is that the existing members of the company will make a neat Rs 5 on every share held.

Riding on the news of the healthy 50 per cent dividend, the Sandesh scrip, which put on 1.20 per cent yesterday to close at Rs 126.50, is expected to clock gains on the bourses today.

Its rivals include, among others, the Agarwal family owned Divya Bhaskar and Gujarat Samachar.